In a small business, the business owner is very focused on working harder and longer with their customers, consumers and he has clearly make decision easily –
Small Business has the ability to change the fixed cost and long term planning. and more quickly to adapt to market needs. Large organization takes a long time to react to change the cost and planning’s. In small business Communication and market needs are much focused because of fewer sources. – it might take days, weeks, and years for larger corporations to implement major market changes. Customers and consumers dislike the rude attitudes and smaller business certainly has less of that – decisions are made easier, because only one or two entrepreneurs are involved in this.
Weakness of Small Business
Small firms has continuously has challenged by the capitals and some time they faced problems to handle cash. Small business has the problem of some personal issue of employees; they have faced the problem in retaining successful employees around issues of compensation and benefits. Small business Owners are concentrate on day to day problems and challenges, There is more employees’ leaving firm in this type of business it is possibility that your best employee may leave you. Naturally small business firms pay more in d costs because they don’t have buying power; as well they are often focused on the low profit margin. Small business has no guarantees or warrantees to be continued it may be closed, if it has some financial problems.